SLB Limited $SLB Shares Sold by Legal & General Group Plc

Legal & General Group Plc reduced its stake in shares of SLB Limited (NYSE:SLB) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,318,643 shares of the oil and gas company’s stock after selling 27,307 shares during the quarter. Legal & General Group Plc’s holdings in SLB were worth $434,410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its holdings in shares of SLB by 9.6% in the third quarter. Principal Financial Group Inc. now owns 1,677,257 shares of the oil and gas company’s stock valued at $57,647,000 after purchasing an additional 147,175 shares in the last quarter. New York State Common Retirement Fund grew its position in shares of SLB by 3.0% in the third quarter. New York State Common Retirement Fund now owns 1,879,137 shares of the oil and gas company’s stock valued at $64,586,000 after purchasing an additional 54,600 shares during the last quarter. National Pension Service increased its stake in shares of SLB by 3.7% during the 3rd quarter. National Pension Service now owns 1,973,518 shares of the oil and gas company’s stock worth $67,830,000 after purchasing an additional 69,826 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of SLB by 7.9% during the 3rd quarter. State of Michigan Retirement System now owns 461,838 shares of the oil and gas company’s stock worth $15,873,000 after purchasing an additional 33,700 shares in the last quarter. Finally, Tejara Capital Ltd raised its position in shares of SLB by 400.9% during the 3rd quarter. Tejara Capital Ltd now owns 138,759 shares of the oil and gas company’s stock worth $4,769,000 after purchasing an additional 111,059 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Steve Matthew Gassen sold 53,379 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $56.18, for a total value of $2,998,832.22. Following the completion of the transaction, the executive vice president owned 47,421 shares of the company’s stock, valued at $2,664,111.78. The trade was a 52.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $54.33, for a total transaction of $108,660.00. Following the completion of the transaction, the director directly owned 16,953 shares of the company’s stock, valued at approximately $921,056.49. This represents a 10.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.16% of the company’s stock.

SLB Stock Performance

NYSE:SLB opened at $57.27 on Tuesday. The firm has a 50 day simple moving average of $52.66 and a 200-day simple moving average of $46.65. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98. The firm has a market cap of $85.63 billion, a PE ratio of 25.01, a P/E/G ratio of 2.32 and a beta of 0.72. SLB Limited has a 1-year low of $31.64 and a 1-year high of $57.88.

SLB (NYSE:SLB) last posted its quarterly earnings data on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.72 earnings per share. On average, equities analysts expect that SLB Limited will post 2.61 EPS for the current year.

SLB Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Wednesday, June 3rd will be given a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd. SLB’s payout ratio is currently 51.53%.

Analyst Ratings Changes

SLB has been the subject of several research reports. TD Cowen lifted their price objective on SLB from $55.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Piper Sandler lifted their price objective on SLB from $53.00 to $59.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 15th. The Goldman Sachs Group lifted their price objective on SLB from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. UBS Group lifted their price objective on SLB from $61.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their price objective on SLB from $54.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.74.

SLB Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.